TORONTO, January 15, 2019 – Brookside Capital Partners is pleased to announce the completion of a debt refinancing and dividend recapitalization in ATS Services (“ATS”).
Based in Ottawa, ATS focuses on supporting the aviation industry, providing aviation communication services, meteorological observations, and sales of meteorological instrumentation. From its original roots starting at Fort Smith’s Community Aerodrome Radio Station in NWT, ATS has grown over 20 years to include over 60 similar operations, from coast to coast to coast (east-westnorth). These unique services are provided to Nav Canada and government agencies, as well as the mining sector, oil and gas sector, and private airport operators.
“We are pleased that our senior lender advanced funding to replace junior debt and allow us to provide a return of capital for investors,” said David Hass, Managing Partner at Brookside. “ATS is a steady and stable business, that is complemented by organic growth initiatives. Add to that is ATS' proven and confident abilities of operating north-of-60. These factors make ATS a compelling investment going forward.”